You might have some hardware, but your enormously interesting opportunity is an enormously interesting Ponzi scheme.
Proof?
The proof needs to come from you, you're the one soliciting money.
Its called mining.
Topic: Will you reinvest in BS&T if pirate returns your deposit next week? (Read 4866 times)
August 22, 2012, 08:32:39 AM
Proof?
The proof needs to come from you, you're the one soliciting money.
Its called mining.
August 22, 2012, 05:42:01 AM
I've run companies larger than BST as CEO (not in finance) and honestly if I made those kinds of moves without telling the client base formally and correctly what they could expect from my changed business operations I'm quite sure the board would have canned me without the golden parachute attached.
He's a one man shop. He doesn't have a staff. He doesn't have a board. Its just him. With tons of people expecting 24x7 availability. You're comparing apples to oranges.
Why is this?? He has Millions of dollars of coin. Why doesn't he have a staff or assistants??
BFL has probably taken in less BTC then Pirate, they have staff.. The bitcoin magazine definately has taken in less, they have staff..
It depends on what his business is and how he wants to run it.
If it opens again its likely to be similar as last time
i will invest the coins but i cant tell you where or how etc ............or else i couldnt do what i do
August 22, 2012, 03:22:19 AM
I've run companies larger than BST as CEO (not in finance) and honestly if I made those kinds of moves without telling the client base formally and correctly what they could expect from my changed business operations I'm quite sure the board would have canned me without the golden parachute attached.
He's a one man shop. He doesn't have a staff. He doesn't have a board. Its just him. With tons of people expecting 24x7 availability. You're comparing apples to oranges.
Why is this?? He has Millions of dollars of coin. Why doesn't he have a staff or assistants??
BFL has probably taken in less BTC then Pirate, they have staff.. The bitcoin magazine definately has taken in less, they have staff..
It depends on what his business is and how he wants to run it.
To answer the OP...
I think Pirate has made one mistake, he let his operation grow without setting some restrictions. This has led to BS&T taking too much of his time. I wouldn't mind re-investing again my profit (not my capital), if things turn out OK.
August 22, 2012, 01:35:47 AM
You might have some hardware, but your enormously interesting opportunity is an enormously interesting Ponzi scheme.
Proof?
The proof needs to come from you, you're the one soliciting money.
I don't prove it to people that start out calling me a ponzi. Had you been an interested investor, it'd have been a different story.
Of course it would. Love the term investor BTW, it sounds so much more professional than sucker.
How about the term "Professional Sucker" ?
August 21, 2012, 08:01:46 PM
You might have some hardware, but your enormously interesting opportunity is an enormously interesting Ponzi scheme.
Proof?
The proof needs to come from you, you're the one soliciting money.
I don't prove it to people that start out calling me a ponzi. Had you been an interested investor, it'd have been a different story.
Of course it would. Love the term investor BTW, it sounds so much more professional than sucker.
August 21, 2012, 07:58:50 PM
Don't be delirious, pirate will not return your coins, instead he will sell those 500K coins, which will bring the exchange rate to 0.15-0.20 range, according to MtGox depth table.
as if he would sell them all at once
he could hold them for years if he does it right and make millions
August 21, 2012, 04:57:47 PM
You might have some hardware, but your enormously interesting opportunity is an enormously interesting Ponzi scheme.
Proof?
The proof needs to come from you, you're the one soliciting money.
I don't prove it to people that start out calling me a ponzi. Had you been an interested investor, it'd have been a different story.
August 21, 2012, 04:28:13 PM
You might have some hardware, but your enormously interesting opportunity is an enormously interesting Ponzi scheme.
Proof?
The proof needs to come from you, you're the one soliciting money.
August 21, 2012, 02:06:01 PM
You might have some hardware, but your enormously interesting opportunity is an enormously interesting Ponzi scheme.
Proof?
August 21, 2012, 01:57:49 PM
Yeah, really, are you pirate or a shill, or are you just deeply invested and deluding yourself? I mean you defend every aspect of his business at every opportunity even though it's clear he's at the very least an irresponsible retard, and at worst a huge scammer. How on EARTH can you think it's possible to have a legitimate business that returns 7% a week for months on end? And if you DID have a business that did that, wouldn't you work on paying your interest and getting the business to belong solely to you as quickly as possible (which wouldn't take long at that growth rate)? Then you would increase your profits greatly, instead of wasting it paying interest.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
Imsaguy is running his own ponzi.
Nice try, but no. It has a bunch of hardware behind it. I've got plenty of people that will attest to that.
You might have some hardware, but your enormously interesting opportunity is an enormously interesting Ponzi scheme.
August 21, 2012, 01:43:44 PM
Yeah, really, are you pirate or a shill, or are you just deeply invested and deluding yourself? I mean you defend every aspect of his business at every opportunity even though it's clear he's at the very least an irresponsible retard, and at worst a huge scammer. How on EARTH can you think it's possible to have a legitimate business that returns 7% a week for months on end? And if you DID have a business that did that, wouldn't you work on paying your interest and getting the business to belong solely to you as quickly as possible (which wouldn't take long at that growth rate)? Then you would increase your profits greatly, instead of wasting it paying interest.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
Imsaguy is running his own ponzi.
Nice try, but no. It has a bunch of hardware behind it. I've got plenty of people that will attest to that.
August 21, 2012, 01:38:46 PM
Yeah, really, are you pirate or a shill, or are you just deeply invested and deluding yourself? I mean you defend every aspect of his business at every opportunity even though it's clear he's at the very least an irresponsible retard, and at worst a huge scammer. How on EARTH can you think it's possible to have a legitimate business that returns 7% a week for months on end? And if you DID have a business that did that, wouldn't you work on paying your interest and getting the business to belong solely to you as quickly as possible (which wouldn't take long at that growth rate)? Then you would increase your profits greatly, instead of wasting it paying interest.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
Imsaguy is running his own ponzi.
August 21, 2012, 01:08:26 PM
Ahh, I apologize then. Just seems like I've seen a lot of your posts defending his actions, but they are usually kind of side points, not DIRECTLY defending him. But yeah, I don't understand how this whole situation got to this point lol. Guess that's what happens when you combine greed with business naivete, which appear to be qualities that many bitcoin users have plenty of each of.
I recognize there are similarities between what has happened with pirate versus what has happened with other scams, but it pisses me off when people outright lie and otherwise trash people without anything legitimate to back up what they say.
August 21, 2012, 01:04:46 PM
Yeah, really, are you pirate or a shill, or are you just deeply invested and deluding yourself? I mean you defend every aspect of his business at every opportunity even though it's clear he's at the very least an irresponsible retard, and at worst a huge scammer. How on EARTH can you think it's possible to have a legitimate business that returns 7% a week for months on end? And if you DID have a business that did that, wouldn't you work on paying your interest and getting the business to belong solely to you as quickly as possible (which wouldn't take long at that growth rate)? Then you would increase your profits greatly, instead of wasting it paying interest.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
I'm not nor have I ever claimed pirate is without fault. I am not pirate and many people who have met me in person can at least verify. I don't live anywhere near Texas nor do I claim to be.
Ahh, I apologize then. Just seems like I've seen a lot of your posts defending his actions, but they are usually kind of side points, not DIRECTLY defending him. But yeah, I don't understand how this whole situation got to this point lol. Guess that's what happens when you combine greed with business naivete, which appear to be qualities that many bitcoin users have plenty of each of.
August 21, 2012, 12:58:41 PM
Yeah, really, are you pirate or a shill, or are you just deeply invested and deluding yourself? I mean you defend every aspect of his business at every opportunity even though it's clear he's at the very least an irresponsible retard, and at worst a huge scammer. How on EARTH can you think it's possible to have a legitimate business that returns 7% a week for months on end? And if you DID have a business that did that, wouldn't you work on paying your interest and getting the business to belong solely to you as quickly as possible (which wouldn't take long at that growth rate)? Then you would increase your profits greatly, instead of wasting it paying interest.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
I'm not nor have I ever claimed pirate is without fault. I am not pirate and many people who have met me in person can at least verify. I don't live anywhere near Texas nor do I claim to be.
August 21, 2012, 12:47:39 PM
Why is this?? He has Millions of dollars of coin. Why doesn't he have a staff or assistants??
BFL has probably taken in less BTC then Pirate, they have staff.. The bitcoin magazine definately has taken in less, they have staff..
Oh right. BFL.. they have staff and still can't answer emails. They have staff and it still only takes 6-8 weeks to get stuff out the door. They have staff and they still haven't updated the news on their wordpress website.
Oh right. Bitcoin magazine.. how many times was it delayed now?
Pirate's been much more responsive than both your examples put together. Some people just need something to bitch about it seems.
Yeah, really, are you pirate or a shill, or are you just deeply invested and deluding yourself? I mean you defend every aspect of his business at every opportunity even though it's clear he's at the very least an irresponsible retard, and at worst a huge scammer. How on EARTH can you think it's possible to have a legitimate business that returns 7% a week for months on end? And if you DID have a business that did that, wouldn't you work on paying your interest and getting the business to belong solely to you as quickly as possible (which wouldn't take long at that growth rate)? Then you would increase your profits greatly, instead of wasting it paying interest.
Nothing about this entire situation makes sense, and I feel kinda bad for anyone retarded enough to believe this shit is legitimate.
August 21, 2012, 11:25:29 AM
I don't think we will see another run of BS&T, but if we do I won't reinvest. Pirate sure gave a great return, but after closing up I have gotten the impression that he doesn't care about trying to reassure lenders. If he intends to return the money it wouldn't have taken too much of his time to give more frequent updates to lenders to try and reassure them that things are proceeding with payouts.
As others have mentioned, it's as if he is trying to create a sense of panic among lenders in order to buy up the cheap debt...
In the future, if I invest, it will be with people who at least try to appear to care about their investors/lenders.
As others have mentioned, it's as if he is trying to create a sense of panic among lenders in order to buy up the cheap debt...
In the future, if I invest, it will be with people who at least try to appear to care about their investors/lenders.
August 21, 2012, 10:43:39 AM
You're kidding right? With hundreds of people doing nothing but hoping for a word from the anointed one that doesn't come while the value of their investments rise and fall out of their control I think not. Furthermore with no evidence that any promised payouts commenced 3 days after freezing our coins, what are we to do but speculate especially since the only word coming from pirate was to tell us that we don't know how hard it is to do the payouts. No pirateat40 has lost all credibility in his ability to deliver whether being in over his head or just a common thief.
August 20, 2012, 06:50:57 PM
I've run companies larger than BST as CEO (not in finance) and honestly if I made those kinds of moves without telling the client base formally and correctly what they could expect from my changed business operations I'm quite sure the board would have canned me without the golden parachute attached.
He's a one man shop. He doesn't have a staff. He doesn't have a board. Its just him. With tons of people expecting 24x7 availability. You're comparing apples to oranges.
Why is this?? He has Millions of dollars of coin. Why doesn't he have a staff or assistants??
BFL has probably taken in less BTC then Pirate, they have staff.. The bitcoin magazine definately has taken in less, they have staff..
My guess, there is no business model that needs witnesses to be there to speak against pirate.
August 20, 2012, 06:08:21 PM
I've run companies larger than BST as CEO (not in finance) and honestly if I made those kinds of moves without telling the client base formally and correctly what they could expect from my changed business operations I'm quite sure the board would have canned me without the golden parachute attached.
He's a one man shop. He doesn't have a staff. He doesn't have a board. Its just him. With tons of people expecting 24x7 availability. You're comparing apples to oranges.
Why is this?? He has Millions of dollars of coin. Why doesn't he have a staff or assistants??
BFL has probably taken in less BTC then Pirate, they have staff.. The bitcoin magazine definately has taken in less, they have staff..
August 19, 2012, 09:21:33 AM
Next time, if there is one, this forum would not be used at all. He has enough friends that would gladly lend him all the BTC he wants or needs.
You mean, while he uses that same BTC against his Lenders before returning it to them ?
The best thing about being POWERLESS to move any BTC DURING THE PRICE COLLAPSING because it's tied up somewhere is....oh...wait.....NEVERMIND.
I am looking forward to getting MY $5 BTC back.
Those same people who could have been taking payments for the last year? Those same people who weren't forced to deposit in the first place. Oh, ok. Since you put it that way...
August 19, 2012, 08:01:26 AM
Next time, if there is one, this forum would not be used at all. He has enough friends that would gladly lend him all the BTC he wants or needs.
You mean, while he uses that same BTC against his Lenders before returning it to them ?
The best thing about being POWERLESS to move any BTC DURING THE PRICE COLLAPSING because it's tied up somewhere is....oh...wait.....NEVERMIND.
I am looking forward to getting MY $5 BTC back.
August 19, 2012, 07:59:43 AM
i would. and would love a system with only weekly or even monthly withdrawals
August 19, 2012, 06:57:04 AM
Actually, Micon said he will not accuse pirate again if all loans are paid out this time.
Yes he says that, but do you really believe him?
August 19, 2012, 05:39:05 AM
That said, I would be pretty surprised if pirate opens up BS&T again after next week's payout. The shitstorm this forum has become is not likely to dissipate simply because people are paid out. Do you really think Micon and Vladimir are going to stop their ponzi incantations merely because all investors have been paid out? Not likely. They would simply say the payout was some kind of elaborate hoax designed to get people to reinvest more money in BS&T before the real scam occurs. No business can operate long term with that level of FUD.
Actually, Micon said he will not accuse pirate again if all loans are paid out this time.
When he does pay everyone back (with interest) will we get a heartfelt appology from Micon and everyone else on team Ponzi?
I will make a youtube video with a straw hat on, a sign that says "I, Bryan Micon, was 100% wrong about the matter of Pirateat40 & Bitcoin Savings & Trust"
I will then also compose 16 bars into a rap about FUD, and how BurtW was right. The rap will also touch on inducting Pirateat40 to the BTC hall of fame and will portray Satoshi as a closet cross-dresser from Idaho that makes it big time at Goldman Sachs and recruits some of his friends to start Bitcoin in 2008
I assume you will do the same for me if I am right and you are wrong?
August 19, 2012, 04:46:40 AM
I think some members of this forum expect too much. Especially when you compare to other major bitcoin services like MtGox, who employ several staff members and yet often delay withdrawals for days or weeks at a time.
That said, I would be pretty surprised if pirate opens up BS&T again after next week's payout. The shitstorm this forum has become is not likely to dissipate simply because people are paid out. Do you really think Micon and Vladimir are going to stop their ponzi incantations merely because all investors have been paid out? Not likely. They would simply say the payout was some kind of elaborate hoax designed to get people to reinvest more money in BS&T before the real scam occurs. No business can operate long term with that level of FUD.
That said, I would be pretty surprised if pirate opens up BS&T again after next week's payout. The shitstorm this forum has become is not likely to dissipate simply because people are paid out. Do you really think Micon and Vladimir are going to stop their ponzi incantations merely because all investors have been paid out? Not likely. They would simply say the payout was some kind of elaborate hoax designed to get people to reinvest more money in BS&T before the real scam occurs. No business can operate long term with that level of FUD.
August 19, 2012, 01:53:00 AM
Certainly. Once it is proven for sure that I can get my money back, I'd probably double my investment or more.
August 18, 2012, 01:06:23 PM
Also, the time he was referring to is constantly having to do withdrawals, remember, he does them manually for security
August 18, 2012, 12:28:57 PM
I've run companies larger than BST as CEO (not in finance) and honestly if I made those kinds of moves without telling the client base formally and correctly what they could expect from my changed business operations I'm quite sure the board would have canned me without the golden parachute attached.
He's a one man shop. He doesn't have a staff. He doesn't have a board. Its just him. With tons of people expecting 24x7 availability. You're comparing apples to oranges.
August 18, 2012, 11:02:39 AM
Hell Yea
Reason why. I don't care about customer service I just want someone who's going to get the job done and do what he says he's going to do. Pirate has proved that to me so far
Reason why. I don't care about customer service I just want someone who's going to get the job done and do what he says he's going to do. Pirate has proved that to me so far
August 18, 2012, 09:53:35 AM
I voted no.
The reason is; the lack of professional management and communication on strategic moves.
Example, he complains there was a run of withdrawals, but he didn't even properly announce and communicate his intent with his largest lenders such as the Bitcoinmax passthrough.
I've run companies larger than BST as CEO (not in finance) and honestly if I made those kinds of moves without telling the client base formally and correctly what they could expect from my changed business operations I'm quite sure the board would have canned me without the golden parachute attached.
What does he do? pop up on IRC and make a little a speech with virtually no warning.
So no, this mickey mouse operational stance ... well fuck him.
The reason is; the lack of professional management and communication on strategic moves.
Example, he complains there was a run of withdrawals, but he didn't even properly announce and communicate his intent with his largest lenders such as the Bitcoinmax passthrough.
I've run companies larger than BST as CEO (not in finance) and honestly if I made those kinds of moves without telling the client base formally and correctly what they could expect from my changed business operations I'm quite sure the board would have canned me without the golden parachute attached.
What does he do? pop up on IRC and make a little a speech with virtually no warning.
So no, this mickey mouse operational stance ... well fuck him.
August 18, 2012, 09:40:30 AM
He was just money laundering for the drug cartels and now the gigs up.
August 18, 2012, 09:31:07 AM
it simply doesnt make sense why he wouldn't ask for cd deposits in the first place
August 18, 2012, 09:04:59 AM
I suspect pirate will make a second generation of BST with lower interest when he returns all the deposit next week.
I'm neutral in the fight of pozi vs legit.
Of course. I'm neutral in the fight of pozi vs legit.
If he comes back with a more stable offering after paying out I would love to invest.
August 18, 2012, 09:00:05 AM
Don't be delirious, pirate will not return your coins, instead he will sell those 500K coins, which will bring the exchange rate to 0.15-0.20 range, according to MtGox depth table.
If it's a pozi, he should have exchanged the BTC to foreign currency and book the plane ticket plus house there long time ago. August 18, 2012, 08:44:44 AM
Don't be delirious, pirate will not return your coins, instead he will sell those 500K coins, which will bring the exchange rate to 0.15-0.20 range, according to MtGox depth table.
August 18, 2012, 07:48:03 AM
If he will make comeback it will be kinda proof of not ponzi or something? Because he really made some bitcoins in such case afaik and ponzi do not work that way, right?
Those still are two big If's...
Those still are two big If's...
August 18, 2012, 07:06:24 AM
I suspect pirate will make a second generation of BST with lower interest when he returns all the deposit next week.
I'm neutral in the fight of pozi vs legit.
I'm neutral in the fight of pozi vs legit.
Jump to: